Hudson Pacific Properties (NYSE:HPP) Price Target Lowered to $3.00 at Cantor Fitzgerald

Hudson Pacific Properties (NYSE:HPP) had its price target lowered by investment analysts at Cantor Fitzgerald from $3.50 to $3.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Cantor Fitzgerald’s target price points to a potential upside of 27.93% from the stock’s previous close.

Several other research firms also recently commented on HPP. Jefferies Financial Group decreased their price objective on Hudson Pacific Properties from $2.50 to $2.40 and set a “hold” rating for the company in a report on Monday, October 13th. New Street Research set a $2.40 price objective on Hudson Pacific Properties in a report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hudson Pacific Properties in a report on Tuesday, October 14th. The Goldman Sachs Group upped their price target on Hudson Pacific Properties from $2.80 to $3.20 and gave the stock a “neutral” rating in a report on Wednesday, September 17th. Finally, Wells Fargo & Company decreased their price target on Hudson Pacific Properties from $3.40 to $3.10 and set an “overweight” rating for the company in a report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Hudson Pacific Properties currently has an average rating of “Hold” and an average price target of $3.09.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock traded down $0.07 during midday trading on Thursday, reaching $2.35. The company’s stock had a trading volume of 523,681 shares, compared to its average volume of 5,079,657. Hudson Pacific Properties has a 52 week low of $1.78 and a 52 week high of $4.66. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average price of $2.69 and a 200-day moving average price of $2.53. The stock has a market cap of $889.11 million, a PE ratio of -0.83 and a beta of 1.62.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Hudson Pacific Properties had a negative return on equity of 15.10% and a negative net margin of 53.76%.The company had revenue of $190.00 million for the quarter, compared to analyst estimates of $196.27 million. On average, sell-side analysts predict that Hudson Pacific Properties will post 0.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HPP. Balyasny Asset Management L.P. grew its stake in shares of Hudson Pacific Properties by 122.4% during the 2nd quarter. Balyasny Asset Management L.P. now owns 15,712,981 shares of the real estate investment trust’s stock worth $43,054,000 after acquiring an additional 8,646,463 shares during the period. Prudential Financial Inc. grew its stake in shares of Hudson Pacific Properties by 357.1% during the 2nd quarter. Prudential Financial Inc. now owns 10,686,082 shares of the real estate investment trust’s stock worth $29,280,000 after acquiring an additional 8,348,371 shares during the period. Conversant Capital LLC grew its stake in shares of Hudson Pacific Properties by 293.6% during the 2nd quarter. Conversant Capital LLC now owns 10,700,000 shares of the real estate investment trust’s stock worth $29,318,000 after acquiring an additional 7,981,580 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hudson Pacific Properties during the 2nd quarter worth about $21,422,000. Finally, Sei Investments Co. lifted its holdings in Hudson Pacific Properties by 18,343.2% during the 2nd quarter. Sei Investments Co. now owns 5,571,688 shares of the real estate investment trust’s stock worth $15,266,000 after purchasing an additional 5,541,478 shares in the last quarter. Institutional investors own 97.58% of the company’s stock.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.